March 18, 2003
At the 75 day mark
At the 75 day mark for 12/31 companies – which will be next year’s 10-K deadline – over 1000 companies have already filed their 10-Ks. Considering that there are slightly less than 10,000 companies with 12/31 year-ends, this is a sizable percentage.
On the SEC’s website – under “Regulatory Actions” there is a new section called “PCAOB Rulemaking.” So far it only includes proposed Bylaws for the Public Company Accounting Oversight Board – not the proposals the PCAOB has issued which is available on its website. The SEC’s PCAOB portal is at http://www.sec.gov/rules/pcaob.shtml. The PCAOB’s website is at http://www.pcaobus.org.
For TheCorporateCounsel.net subscribers, we have posted model Pre-Approval Policies for Non-Audit Services from Wachtell Lipton and Ernst & Young at http://www.thecorporatecounsel.net/member/Sarbanes/SampleNon-AuditPolicies.htm.
We also have posted sample disclosures from companies that have significant deficiencies and material weaknesses in their internal controls at http://www.thecorporatecounsel.net/member/Disclosure/03_14_03_deficiencies.htm.